Reply to: Mini Budget aka Fiscal Statement

[_V_]

Britain somehow managed (better than now too) before “OBR” was created - using same models as the Treasury, I think a dozen of staff work there - same or better analysis can be done by at least a dozen of large banks/funds

Tories working with OBR here.

[mattster]

Britain somehow managed (better than now too) before “OBR” was created - using same models as the Treasury, I think a dozen of staff work there - same or better analysis can be done by at least a dozen of large banks/funds

Totally irrelevant - it's all about the optics. Just let them do their job - if you don't, it rather draws attention to the fact that you might be trying to hide something.

[vetran]

3? Do you live in Merthyr Tydfil?

nine pints of Green King IPA in spoons, its £1.50 a pint there is one in Windsor, and its that price in Beaconsfield services.

https://www.morningadvertiser.co.uk/...January%202022.

Oh forgot Windsor spoons is now aptly named "The King & Castle" opposite Windsor castle. Seemed a bit odd when her majesty was alive.

[jamesbrown]

Yes 3 and often a lightly damaged car stereo for a tenner

That wasn't beer.

[AtW]

3? Do you live in Merthyr Tydfil?

Yes 3 and often a lightly damaged car stereo for a tenner

[AtW]

Britain somehow managed (better than now too) before “OBR” was created - using same models as the Treasury, I think a dozen of staff work there - same or better analysis can be done by at least a dozen of large banks/funds

[jamesbrown]

I don't think the markets care one jot about IR35. They probably don't care about the 19% personal tax rate either. It was the rash rash of dramatic cuts tossed out with no forethought and the refusal to have them 'audited'.

I didn't imply the did. They care about the aggregate numbers, not what they relate or amount to individually, as do the OBR. That much is obvious. As I've said elsewhere, the failure to have OBR check their work was a major issue too, which has now been fixed and now matters w/r to these reversals.

[d000hg]

We all know that. But that is not the metric here. The metric is whether it can be squared with OBR (and, hence, the markets).

I don't think the markets care one jot about IR35. They probably don't care about the 19% personal tax rate either. It was the rash rash of dramatic cuts tossed out with no forethought and the refusal to have them 'audited'.

[jamesbrown]

Oh wow 14 quid a week - this changes everything!

That’s like what - 3 pints in a local pub!

3? Do you live in Merthyr Tydfil?

[AtW]

If you were just relying on that you would get your £14 a week pension credit plus all the other benefits linked to you claiming that.

Oh wow 14 quid a week - this changes everything!

That’s like what - 3 pints in a local pub!

[jamesbrown]

Yet the average joe has no issue with self employed traders taking cash payments . And not declaring it.

Yup, people are weird.

[mallisarealperson]

But it's £2bn and the incremental effects of a bunch of smaller measures were quite large, plus the average Joe either doesn't understand it or works in an office with IT contractors and looks at them as "scumbag tax avoiders". Just read the comments in the FT any time there's an article on IR35

Yet the average joe has no issue with self employed traders taking cash payments . And not declaring it.

[jamesbrown]

It's not even £2bn in truth, it's more like a loss all things considered. As HMT have been told on numerous occasions: it seems we have another chancellor who is driven by the Treasury civil service rather than harsh reality.

We all know that. But that is not the metric here. The metric is whether it can be squared with OBR (and, hence, the markets).

[malvolio]

But it's £2bn and the incremental effects of a bunch of smaller measures were quite large, plus the average Joe either doesn't understand it or works in an office with IT contractors and looks at them as "scumbag tax avoiders". Just read the comments in the FT any time there's an article on IR35

It's not even £2bn in truth, it's more like a loss all things considered. As HMT have been told on numerous occasions: it seems we have another chancellor who is driven by the Treasury civil service rather than harsh reality.

[DealorNoDeal]

Well, I just got my letter from HMRC ref my state pension. Lucky I'm not just relying on it...£8,898 a year. Now if £2500 minimum of that was just going on heating?

The state pension is only vaguely viable to live off if there are two of you in a couple receiving it. Most of the big outgoings like heating, electricity, water, running a car etc are pretty much the same whether there's one person or two in a household.